Wedmont Private Capital Sells 316 Shares of Salesforce, Inc. (NYSE:CRM)

Wedmont Private Capital decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,656 shares of the CRM provider’s stock after selling 316 shares during the period. Wedmont Private Capital’s holdings in Salesforce were worth $5,294,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter valued at $27,000. Clear Investment Research LLC grew its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter worth about $33,000. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Finally, Annapolis Financial Services LLC boosted its position in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. UBS Group lifted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. Loop Capital lifted their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Macquarie reissued a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Price Performance

Shares of NYSE CRM traded up $0.23 during mid-day trading on Monday, reaching $318.08. The company’s stock had a trading volume of 1,991,374 shares, compared to its average volume of 4,505,979. The stock has a market capitalization of $304.40 billion, a P/E ratio of 52.32, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a 50-day moving average of $335.82 and a two-hundred day moving average of $289.73.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the company earned $1.62 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,181,817 shares of company stock worth $404,760,429 over the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.